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SueEllen
16th March 2008, 23:15
Being brought by JP Morgan for $2 a share

max
16th March 2008, 23:18
Being brought by JP Morgan for $2 a share

Really?!?....seems low, even considering the toxicity of their holdings.

Do you have a link?

max
16th March 2008, 23:48
JPMorgan Chase & Co. said the $2 a share, all-stock deal has received the required approvals from the federal government and the Federal Reserve. Bear Stearns shares close Friday at $30 a share.


Nasty...shareholders won't be happy.


Seems the fed cut bank interest rates today as well...this is getting ugly,

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5MdIqIevEW0&refer=home

SueEllen
17th March 2008, 00:11
Really?!?....seems low, even considering the toxicity of their holdings.

Do you have a link?

Was watching BBC News 24 when I posted so I didn't actually have a link as it was a News Flash. Luckily others have posted one for me. :D

AtW
17th March 2008, 00:17
Looks like JP Morgan is some kind of in-bed-partner with the Fed :eyes

max
17th March 2008, 00:41
Looks like JP Morgan is some kind of in-bed-partner with the Fed :eyes

Fed's anyone's now

AtW
17th March 2008, 01:32
When a bank with like 300 bln of "assets" is bought for less than 300 mln it means it was practically worthless...

BrilloPad
17th March 2008, 06:55
Looks like JP Morgan is some kind of in-bed-partner with the Fed :eyes

Interesting how the fed works these things - LTCM in 98 was same thing. Fed arranged lifeboat, but other companies built it/operated it.

I guess the Fed don't want to own banks?

tim123
17th March 2008, 08:05
Looks like JP Morgan is some kind of in-bed-partner with the Fed :eyes

That's how it used to work in the UK before the EU came along and made such back-door arrangements impossible.

Whilst there has never been a shotgun marriage of Banks this size in the UK, there has certainly been many arrangements of takeovers of much smaller concerns.

tim